Girling has been critical of the boom in crude-by-rail because it's less safe than pipelines, but with rail cars traveling unrestricted across the U.S.-Canada border, he expects rail to become a big part of TRP's future as pipelines wait for regulatory approvals.

400K-500K bbl/day of oil will move out of western Canada by rail next year, increasing to 1M bbl/day by 2015, the CEO says.

Girling also sees opportunities to build new oil pipelines in Mexico, where TRP already has two natural gas pipelines: "What we bring to the table is obviously our capital, but probably more importantly is our expertise in some of the more difficult terrain and remote terrain in Mexico."